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The IRS is changing paycheck withholding, and it'll be a doozy
submitted 9 months ago by HeyImSancho from msn.com
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[–]JasonCarswell 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 9 months ago (4 children)
Maybe. I don't know about that. But as for the trades there's not. I only know this because lots of folks want it and it only seems fair. But they don't want it fair.
[–]SundogsPlace 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 9 months ago (3 children)
Capital gain is a rise in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. In 2018 the capital gains tax rates are either 15% or 20% for most assets held for more than a year. Capital gains tax rates on most assets held for less than a year correspond to ordinary income tax brackets (10%, 12%, 22%, 24%, 32%, 35% or 37%) https://www.nerdwallet.com/blog/taxes/capital-gains-tax-rates/
Taxes on the stock market are quite high and move higher depending on your tax bracket. The more money you make, the more you pay on your gains. My brother in law, a nurse, (with student loans to pay) already pays 37% on his short term earnings.
Am I reading you correctly that you believe this is not fair and people like him should be required to pay even more?
Taxing the trade its self taxes the person for the ability to trade win or lose. The poorer you are the more that would hurt your ability to participate in the market, as you would have less to invest in each trade after the tax. Even the UK hasn't yet taxed its middle class for the ability to participate in trading.
[–]JasonCarswell 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 9 months ago (2 children)
To my understanding you invest in the market and then ideally you take more out in the end. I think you're supposed to pay taxes on that earnings.
But while it's all in the market you can trade it around - free of taxes.
Almost like bartering or trading, doing favours, or gifting - in the real world.
The government doesn't like that. The tax you every fucking chance they get. Sales tax, income tax, gas tax, everywhere a tax tax.
If I buy 10,000 shares from you I pay no tax, not even 0.001%.
Anyone who's in the market ain't hurting.
That ain't fair.
The whole fucking system is rigged and Clinton set up the bank failure in 2008. And Obama just gave the banks the money instead of giving it to the people who would have put it in the banks and boosted the economy.
It's all fucking rigged.
[–]d3rr 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 1 fun3 insightful - 2 fun - 9 months ago (1 child)
And they pork barreled the wall st bailout into the automotive industry bailout, so you had to vote for both or neither. Sneaky bastards. "Too big to fail" is also a joke and fraud.
[–]JasonCarswell 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 9 months ago (0 children)
It means we're too small to succeed.
Socialism for the rich capitalists. None for you.